Last trends on crypto: the NFTS

What are NFTS?

We could answer that they are the fashion of the moment and that - at some level - they have a relationship with cryptocurrencies and blockchains. But such an answer is not enough for a phenomenon that is moving millions of dollars every day and that seems to be the latest trend in the crypto sector. Some sector magazines were attentive to deal with it on several occasions. They were the first to speak about Cristiano Ronaldo’s NFT in Italy (or rather, a sort of digital card), just as the first to update the readers about auctions at Christie’s and also at Sotheby’s. Now is the time to find out more - and we will explain in detail what NFTs are and if they are worth investing in.

What is an NFT?

The acronym stands for Non-Fungible Token, which for private law enthusiasts already explains part of the story. They are non-fungible tokens, i.e. tokens that are unique and cannot be exchanged on par with other tokens. We can make the counter-example to understand what it is. One Bitcoin is identical to another Bitcoin. We can trade them and both sides of the transaction will still have the same value in hand.

NFTs, on the other hand, are tokens created according to a standard that makes them unique. Let’s dig in.

The name reveals its most important feature: these digital tokens found in a blockchain are interchangeable. By purchasing cryptocurrency, for example bitcoins, each of them will be interchangeable: owning bitcoin “A” or bitcoin “B” within the blockchain will make no difference.